London - UK house prices fell for the first time in almost two years in March, according to the latest report from Nationwide Building Society.
The 0.3% monthly drop, the first decline since June 2015, pulled the annual rate down to 3.5% from 4.5%. That’s the weakest year-on-year increase in values since August 2015.
While there’s monthly volatility in price changes, the underlying trend is showing the UK housing market cooling. The annual increase was close to 6% a year ago.